Vidhi Codex

Bare Act

The Sikkim Industrial Promotion and Incentive (Amendment) Act, 2003

General200326 sections

This Act amends the Sikkim Industrial Promotion and Incentive Act to focus on expanding industrial capacity and updating eligibility rules for financial incentives. It applies to new enterprises as well as established units undertaking diversification, modernization, or significant capacity increases. The legislation matters because it provides legal certainty and support for businesses by offering benefits like deferred taxes, thereby aiming to foster broader economic growth and investment in the state's industrial sector.

Start reading →Read full ActSections
  1. 1. Short title and commencement
  2. 2. Applicability of the Act
  3. 3. Definitions
  4. 4. Disqualification
  5. 5. Sanctioning, recovery, reimbursement etc.
  6. 6. Subsidy of interest on
  7. 6A. Capital Investment Subsidy
  8. 6B. Captive power subsidy
  9. 6C. Special incentive to the Pioneer Unit.
  10. 6D. Special incentive
  11. 6E. Stipendary support for EOP
  12. 6F. Reimbursement of local employment promotion grant.
  13. 6G. Local employment promotion grant.
  14. 6H. Subsidy on cost incurred on quality
  15. 6I. Subsidy on consultancy service.
  16. 6J. Subsidy on technical knowhow
  17. 6K. Special incentives for Agro and Food Processing Industries
  18. 7. Price preference
  19. 8. Subsidy on power
  20. 9. Exemption on security deposit and/or
  21. 10. International Standard organisation/Indian Standard Institute
  22. 11. Subsidy on Registration Fee of Promotion Council, Indian Standard Institution, Commodity Board, Chamber of Commerce
  23. 12. Exemption under Notification No. 2/TIC
  24. 12A. Value Added Tax (VAT)
  25. 13. Periods of exemption
  26. 14. Power to Remove

PDF: pending for this language.